Kenneth A. Luccioni Investigation
January 2024-Park Ridge, IL
The FINRA records of Kenneth A. Luccioni, a former stock broker who was last employed in the industry by Triad Advisors, Inc. , disclose a regulatory matter and settlement of several customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
FINRA records disclose that Kenneth A. Luccioni was permanently barred from the securities industry by FINRA in November of 2018 for failing to provide documents and information to FINRA in connection with an investigation into whether he had failed to disclose federal and state tax liens on his regulatory disclosure forms.
IN 8/2023 a customer of Triad Advisors was paid $250,000 to resolve allegations that Luccioni recommended alternative investments in oil and gas and mutual funds. Another Triad customer was paid $400,000 in 8/2023 to resolve allegations that Luccioni recommended an unsuitable strategy starting in 2005 that caused losses of $1 million.
In 3/2022 a customer of Triad Advisors was paid $125,000 to resolve a FINRA arbitration in which the customer alleged that Luccioni over concentrated her account in volatile energy sector securities that were unsuitable.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Luccioni was employed by Triad Advisors, Inc. from November of 2000 until December of 2016.
If you have losses in an account handled by Kenneth A. Luccioni call to learn how you may be entitled to collect damages through FINRA arbitration.
See this for more information on REITs and Other Alternative Investments
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
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